Taking to Instagram, UFC President Dana White officially announced that the UFC is now a publicly traded company. The MMA organization’s parent company, Endeavor, formerly known as WME-IMG, executed its initial public offering, opening on the New York Stock Exchange at $24 USD April 29. At the end of trading Endeavor Group Holdings (EDR) sat at $25.20 USD per share, selling 21.3 million shares to raise $511 million USD with a valuation of more than $10 billion USD.
Despite market analysts warning investors about the volatility of the business’ portfolio, Endeavor CEO Ari Emanuel and partners have been able to maintain the business despite restrictions on entertainment brought on by the COVID-19 pandemic. More specifically, the UFC has shined throughout 2020 and into 2021 with its consistent efforts to put on events within the United States and on its Fight Island location in Abu Dhabi.
Back in 2016, Endeavor and a group of investors purchased the UFC from Station Casinos executives Frank Fertitta III and Lorenzo Fertitta for over $4 billion USD. Proving the importance of the organization to the future of its business, Endeavor acquired additional funds to maintain majority control over the UFC and present it as an asset ahead of its IPO. It is also important to note the Endeavor also announced Elon Musk will be joining its board of directors later this year.
In case you missed it, the United States is reportedly looking to ban menthol and flavored cigarettes and cigars.
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